Failup Ventures, a new globally operating early-stage venture capital fund, has announced the first closing of €30 million of its new early-stage fund of €50 million. Founded by three previous Finnish entrepreneurs – Jesse Heikkilä, Topias Soininen, and Oscar Andersin – Failup Ventures backs early-stage startups with strong, mission-driven teams. Failup’s typical initial investments range from €200k to €1 million with the capability to follow up with larger tickets.
With its unconventional focus, Failup Ventures sets itself apart from other funds in the Nordic region through its strong footing in the United States and funding promising startups both in the Nordics and in the US.
Each of the founding members brings different expertise to the team from their founder and angel investor backgrounds. Heikkilä and Soininen, known for their startup Playven, a SaaS sports facility management and marketplace company later acquired by Playtomic, have a strong understanding of high-growth startups and finding product-market fit. Andersin, on the other hand, has worked as an Investment Manager at Vencubator, a Helsinki-based startup incubator. Together, the team has built and invested in nearly 40 startups through previous angel investments.
The team has already made three investments into early-stage teams from its fund. The fund’s target size has been set to €50 million. Business Finland Venture Capital Oy acted as the anchor investor in Failup Ventures’ new fund.